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CEO profile: Willie Watt, Martin Currie
25 November 2011
Willie Watt has been in the hot seat at Martin Currie for a decade – and despite wildly changing fortunes in the global economy over that period he still has strong belief in active management.
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What is the future for active asset management? Do you see pressure on fees?
The future is positive for firms that focus on investment excellence and which construct portfolios where risk is taken – and returns driven – at stock level. In this way, alpha can be delivered consistently even in the type of volatile markets that we are enduring today. This alpha needs to be protected through a clear focus on capacity management and ongoing investment in the talent required to identify the best opportunities and construct optimal portfolios.
Fees depend on what you are aiming to deliver and what your clients’ requirements are. Firms should set fees that ensure the correct balance between the capacity available, the investment required in the business and the firm’s target profitability. And, importantly, fees should reflect the value being delivered to the client.
Martin Currie usually creates its own teams on the ground...
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